Finance Act, 1993

In short

This law, the Finance Act, 1993, primarily deals with various aspects of taxation in Ireland, including income tax, corporation tax, capital gains tax, customs and excise duties, value-added tax, stamp duties, and residential property tax. It introduces amendments to existing tax provisions and establishes new regulations across these areas.

What it regulates

• Income Tax, Income Levy, Corporation Tax, and Capital Gains Tax.
• Customs and Excise duties, including vehicle registration and taxation, and duties on goods like tobacco, alcohol, and hydrocarbons.
• Value-Added Tax (VAT) on goods and services.
• Stamp Duties on various transactions and instruments.

Who it concerns

• Individuals subject to income tax, income levy, and capital gains tax.
• Companies subject to corporation tax.
• Consumers and businesses affected by customs and excise duties, and Value-Added Tax.

Key points

• It amends provisions related to exemption from income tax and alters income tax rates.
• It addresses the taxation of married persons and introduces regulations for savings and investment schemes.
• It includes measures for investment incentive schemes and specific tax treatments for farming and urban renewal.
• It details changes to customs and excise duties, including those on vehicles, tobacco products, cider, perry, wine, and hydrocarbons.